Bollinger bands breakout Indicator For MT5
The Bollinger bands breakout Indicator For MT5 works on a very simple idea. First of all, the bands are created with the help of simple moving average calculation along with the standard deviation. By closely noticing the price chart, you will notice small markings at the upper and lower band when the price drops.
The market is done when the price closes above the Bollinger band. But the traders should carefully select the time frame based on the market volatility as a lot depends on it. For instance, if the volatility is higher, it is imperative to rely on the bigger time frame like the D1 or the weekly.
On the contrary, when the volatility ceases down, the traders need to look at the smaller time frame data. But the user of the smaller time frame should rely on the price action signals. Unless they do so, they are going to deal with too many false signals. And always be aware of the major news data as the major breakout occurs on such critical financial events.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
Installing the Bollinger bands breakout Indicator For MT5
After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file Bollinger bands breakout.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.
Parameters of the Bollinger bands breakout Indicator For MT5
The Bollinger bands breakout Indicator For MT5 has 5 parameters to configure.
input int inpPeriod = 20; // Bollinger bands period
input ENUM_APPLIED_PRICE inpPrice = PRICE_CLOSE; // Price
input double inpDeviations = 2.5; // Bollinger bands deviations
input double inpZonesPercent = 20; // Zones percent
input enDevType inpDevType = dev_regular; // Standard deviations type
Buffers of the Bollinger bands breakout Indicator For MT5
The Bollinger bands breakout Indicator For MT5 provides 9 buffers.
SetIndexBuffer(0,fupu ,INDICATOR_DATA);
SetIndexBuffer(1,fupd ,INDICATOR_DATA);
SetIndexBuffer(2,fdnu ,INDICATOR_DATA);
SetIndexBuffer(3,fdnd ,INDICATOR_DATA);
SetIndexBuffer(4,bufferUp,INDICATOR_DATA);
SetIndexBuffer(5,bufferDn,INDICATOR_DATA);
SetIndexBuffer(6,bufferMe,INDICATOR_DATA);
SetIndexBuffer(7,breakup ,INDICATOR_DATA); PlotIndexSetInteger(5,PLOT_ARROW,217); PlotIndexSetInteger(5,PLOT_ARROW_SHIFT,-10);
SetIndexBuffer(8,breakdn ,INDICATOR_DATA); PlotIndexSetInteger(6,PLOT_ARROW,218); PlotIndexSetInteger(6,PLOT_ARROW_SHIFT, 10);
Main Parts Of The Code
int OnCalculate (const int rates_total,
const int prev_calculated,
const datetime& time[],
const double& open[],
const double& high[],
const double& low[],
const double& close[],
const long& tick_volume[],
const long& volume[],
const int& spread[])
{
int _copyCount = rates_total-prev_calculated+1; if (_copyCount gt rates_total) _copyCount=rates_total;
if (CopyBuffer(_maHandle,0,0,_copyCount,bufferMe)!=_copyCount) return(prev_calculated);
//
//---
//
int i= prev_calculated-1; if (i lt 0) i=0; for (; i lt rates_total && !_StopFlag; i++)
{
double price; _setPrice(inpPrice,price,i);
double deviation = iStdDeviation.calculate(price,i,rates_total);
//
//---
//
bufferUp[i] = bufferMe[i]+deviation*inpDeviations;
bufferDn[i] = bufferMe[i]-deviation*inpDeviations;
fupd[i] = bufferMe[i]+deviation*inpDeviations*_bandsFillZone; fupu[i] = bufferUp[i];
fdnu[i] = bufferMe[i]-deviation*inpDeviations*_bandsFillZone; fdnd[i] = bufferDn[i];
breakup[i] = (close[i] gt bufferUp[i]) ? high[i] : EMPTY_VALUE;
breakdn[i] = (close[i] lt bufferDn[i]) ? low[i] : EMPTY_VALUE;
}
return(i);
}
//------------------------------------------------------------------
// Custom function(s)
//------------------------------------------------------------------
//
//---
//
class cStdDeviation
{
private :
int m_period;
double m_periodDiv;
int m_arraySize;
bool m_isSample;
struct sStdStruct
{
double price;
double price2;
double sum;
double sum2;
};
sStdStruct m_array[];
public:
cStdDeviation() : m_arraySize(-1) { }
~cStdDeviation() { ArrayFree(m_array); }
///
///
///
void init(int period, bool isSample)
{
m_period = (period gt 1) ? period : 1;
m_isSample = isSample;
m_periodDiv = MathMax(m_period-m_isSample,1);
}
double calculate(double price, int i, int bars)
{
if (m_arraySize lt bars) {m_arraySize=ArrayResize(m_array,bars+500); if (m_arraySize lt bars) return(0); }
//
//
//
m_array[i].price =price;
m_array[i].price2=price*price;
//
//---
//
if (i gt m_period)
{
m_array[i].sum = m_array[i-1].sum +m_array[i].price -m_array[i-m_period].price;
m_array[i].sum2 = m_array[i-1].sum2+m_array[i].price2-m_array[i-m_period].price2;
}
else
{
m_array[i].sum = m_array[i].price;
m_array[i].sum2 = m_array[i].price2;
for(int k=1; k lt m_period && i gt =k; k++)
{
m_array[i].sum += m_array[i-k].price;
m_array[i].sum2 += m_array[i-k].price2;
}
}
return (MathSqrt((m_array[i].sum2-m_array[i].sum*m_array[i].sum/(double)m_period)/m_periodDiv));
}
};
cStdDeviation iStdDeviation;
//
//---
//
bool _checkHandle(int _handle, string _description)
{
static int _chandles[];
int _size = ArraySize(_chandles);
bool _answer = (_handle!=INVALID_HANDLE);
if (_answer)
{ ArrayResize(_chandles,_size+1); _chandles[_size]=_handle; }
else { for (int i=_size-1; i gt =0; i--) IndicatorRelease(_chandles[i]); ArrayResize(_chandles,0); Alert(_description+" initialization failed"); }
return(_answer);
}
//------------------------------------------------------------------
